Antofagasta expects 2024 copper output at low end of yearly forecast
Antofagasta produced 284,700 metric tons of copper in the first half, down 3.7% from the same period in 2023.
Top-tier oilsands company Canadian Oil Sands (TSE:COS) is cranking up production at its Syncrude oilsands project.
The company said today it plans to spend $1.46 billion at Syncrude, a joint venture between COS (36%), Imperial Oil and ExxonMobil. About two thirds of the money, or $974 million, will be directed towards infrastructure which is expected to position the project for the next two decades of production, Calgary-based COS stated:
“We are well positioned to fund our business plan with a strong balance sheet and excellent liquidity,” said Marcel Coutu, President and Chief Executive Officer.
The facility is expected to produce 106 to 117 million barrels of oil in 2012.
COS closed 1.13% down on Thursday on a general market downtrend. The commodities-heavy TSX was off 174 points to settle below 12,000 at 11,943.
Comments
Mahmoud
as a part of my retirement plan, I sold my condo apartment, and invested about 40% of it in Can. Oil Sand at price a of $44.00, now I am loosing @ $25,000.00, in addition to the monthly rent.
I believe that COS should work hard to improve and maintain the quarterly dividend, on order to recover the big loss in the share price, and to regain the trust of it’s shareholders and the market.
Otherwise, the Company should have issued a warning to the market 4years ago, that the share prices of @ $40.00 to $50.00 is overvalued, instead of strongly defending it, by one of it’s officials in a TV interview, and even challenging and expressing his expectations for higher prices with higher oil prices.
A month ago the oil price was more than $100.00 a barrel and COS shares was only
@ $19.00 a share. I need an answer.
Mahmoud